Agricultural and Business Property Relief Debate
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Rosena Allin-Khan
Main Page: Rosena Allin-Khan (Labour - Tooting)Department Debates - View all Rosena Allin-Khan's debates with the HM Treasury
Agricultural and Business Property Relief
Rosena Allin-Khan Excerpts(1 day, 13 hours ago)
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Dr Rosena Allin-Khan (in the Chair)
I will call Graham Stuart to move the motion and then the Minister to respond. There will not be an opportunity for the Member in charge to wind up, as is the convention for 30-minute debates.
Graham Stuart (Beverley and Holderness) (Con)
I beg to move,
That this House has considered the impact of planned changes to agricultural property relief and business property relief on small businesses.
It is pleasure to serve under your chairmanship, Dr Allin-Khan, and to see so many colleagues from across the House here today. Perhaps it is not surprising that we have a redoubtable Minister, who picks up the poisoned chalice on so many occasions. He will do so today, no doubt both well informed and with good humour, as he has done previously.
I refer to my declaration in the Register of Members’ Financial Interests as a recipient of campaign donations from businesses and farmers across Beverley and Holderness. Given the rural nature of my seat, I will start by focusing on the twin impacts of the changes to agricultural property relief and business property relief on family farms, followed by the impact of changes to BPR on family businesses. We have just a half-hour debate, and a colleague asked the good question of why it was so short for something so big. That means I will probably be the sole speaker, but I am happy to take as many interventions as I can, because I know that concern is widespread.
In her autumn Budget, the Chancellor announced a significant change to APR and BPR, set to take effect from April 2026. She is imposing a 20% tax on the value of land and machinery exceeding £1 million. That is known by many of us as a family farm tax. By the Government’s own estimate, it could result in one farm closing in every rural constituency every year.